Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.012%

Price spread now: BingX against Extended−0.050%7-day average +0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.021%+$2 on $10k

Price spread, last 4 days (all we have)+0.097%+$10 · spread now −0.050%, 7d avg +0.041%

Together, before fees+0.119%+ Points / potential airdropExtended: Active · farm board+$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.090% cheaper against Extended than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended LINK-USD	13.180	0.0104	pay 0.0013% / 1h	8m 37s	$670K	$1.9M	25x
Short	BingX LINK-USDC	13.173	0.0100	get 0.0100% / 8h	7h 08m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Extended. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ExtendedbpFee BingXbpOrdersPrice spread, now −0.050%Rate

Funding earned: −$0.84
Price spread: −0.050% → +0.041%: −$9.02
Slippage, 4 orders: −$14.26
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$39.12
Costs to cover: 0.293%
Break-even: never at this rate

Slippage from Extended: live order book, 5 min ago; BingX: live order book, 14 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Extended live order book, 5 min ago	1.14 bp	5.9 bp −$6	7.8 bp −$78	doesn't fit	doesn't fit
Sell BingX live order book, 14 min ago	0.76 bp	9.1 bp −$9	16.9 bp −$169	81.0 bp −$8,096	468.4 bp −$234.2K

LINK on 40 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX LINK/USD [LINK-USDC]	L −0.0091% / S +0.0167%	1h	13.188	+0.067%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.201	+0.166%	$465K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.189	+0.073%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.915%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.187	+0.054%	$4K	$89K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0038%	1h	13.194	+0.112%	$784K	$212K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0070%	8h	13.186	+0.049%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.178	−0.013%	$2.0M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.228	+0.366%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.190	+0.083%	$404K	$307K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.190	+0.077%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.179	−0.007%	$276K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.175	−0.038%	$122.3M	$298.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.170	−0.072%	$84.9M	$70.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.169	−0.080%	$27.6M	$83.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.194	+0.110%	$185K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.184	+0.034%	$130.5M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.174	−0.042%	$36.6M	$59.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.177	−0.019%	$23.0M	$14.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.173	−0.050%	$54.6M	$30.1M	75x	as long as short
BingX LINK-USDCshort	+0.0100%	8h	13.173	−0.050%	—	$6.6M	—
Variational Omni LINK	+0.0100%	8h	13.169	−0.077%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.174	−0.044%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.184	+0.033%	$591K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.180	+0.004%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.198	+0.140%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.186	+0.052%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.210	+0.228%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.186	+0.049%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.182	+0.016%	$649K	$867K	75x	as long as short
Extended LINK-USDlong	+0.0104%	1h	13.180	long leg	$670K	$1.9M	25x
Aevo LINK-PERP	+0.0104%	1h	13.191	+0.087%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.203	+0.178%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0170%	1h	13.194	+0.110%	$365K	$361K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.170	−0.072%	$5.2M	$15.5M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.193	+0.099%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.188	+0.061%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0425%	1h	13.176	−0.026%	$349K	$48K	10x	as long as short
Phemex LINKUSDT	+0.0470%	8h	13.201	+0.163%	$20.4M	$11.5M	50x	as long as short
Hyperliquid LINK	+0.0550%	1h	13.202	+0.170%	$81.5M	$25.0M	10x	as long as short